Walker Chandiok ScCo LLP

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1 Walker Chandiok ScCo LLP Walker Chandiok & Co LLP 16th Floor, Tower II, Indiabulls Finance Centre, SB Marg, Elphinstone (W) Mumbai Maharashtra, India T F Independent Auditor s Review Report on Standalone Quarterly Financial Results and Year to Date Results of the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 To the Board of Directors of Everest Kanto Cylinder Limited 1. We have reviewed the accompanying statement of unaudited standalone financial results (the 'Statement') of Everest Kanto Cylinder Limited (the 'Company') for the quarter ended 30 September 2018 and the year to date results for the period 1 April 2018 to 30 September 2018, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, This Statement is the responsibility of the Company s Management and has been approved by the Board of Directors. Our responsibility is to issue a report on the Statement based on our review. 2. We conducted our review in accordance with the Standard on Review Engagements (SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity, issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures, applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion. 3. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with applicable Indian Accounting Standards specified under Section 133 of the Companies Act, 2013 and SEBI Circulars CIR/CFD/CMD/15/2015 dated 30 November 2015 and CIR/CFD/FAC/62/2016 dated 5 July 2016, and other recognised accounting practices and policies, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, including the manner in which it is to be disclosed, or that it contains any material misstatement. - Page 1 of 2 Chartered Accountants Offices in Bengaluru. Chandigarh, Chennai. Gurugram, Hyderabad. Kochi, Kolkata. Mumbai. New Delhi. Noida and Pune Walker Chandiok & Co LLP is registered with limited liability with Identification number AAC-2085 and its registered office at L-41 Connaught Circus, New Delhi, , India

2 Walker Chandiok &Co LLP Everest Kanto Cylinder Limited Independent Auditor s Review Report on Standalone Quarterly Financial Results - 30 September We draw attention to Note 6 to the accompanying Statement, regarding delays in payment of foreign currency payables against the supply of goods, receipt in foreign currency receivables and interest receivable on foreign currency loans aggregating to? 9,785 lakhs,? 18 lakhs and? 1,496 lakhs respectively, that are outstanding for a period beyond the timelines stipulated in FED Master Direction No. 17/ , FED Master Direction No. 16/ and Notification No. FEMA 120/ RB-2004 respectively, under the Foreign Exchange Management Act, Management of the Company has represented that the Company is in the process of regularising these defaults by filing necessary application with the appropriate authority for condonation of such delays. Management is of the view that the possible penalties, etc. which may be levied for these contraventions cannot be measured with sufficient reliability and accordingly, the accompanying Statement do not include any adjustments that may arise due to such default. Our report is not modified in respect of this matter. For Walker Chandiok & Co LLP Chartered Accountants Firm s Registrat in No: N/N Khushroo B. Panthaky Partner Membership No Place: Mumbai Date: 14 November 2018 Page 2 of 2 Chartered Accountants

3 EVEREST KANTO CYLINDER LIMITED Registered Office: 204, Raheja Centre, Free Press Journal Marg, 214, Nariman Point Mumbai CIN: L29200MH1978PLC020434; Tel Numbers: /01 Fax: ; Website: STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2018 Sr. No. Particulars (8 In lakhs, unless otherwise atatedl Quarter ended Half yaar ended Year ended (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) I Revenue from operations (Refer note 3) 10,900 10,187 7,323 21,087 13,999 32,623 II Other income (Refer note S) , Total Income (1 + II) 11,093 10,484 7,428 21,577 14,167 34,373 IV Expenses (a) Cost of materials consumed 6,532 5,515 4,128 12,047 7,095 16,469 (b) Purchases of stock-in-trade , (c) Changes in inventories of finished goods, work-inprogress (986) 131 (234) (855) (699) 100 and stock-in-trade (d) Excise duty (Refer note 3) (e) Employee benefits , ,878 (f) Finance costs ,308 1,391 2,668 (g) Depreciation and amortisation (h) Other expenses - Power and fuel , ,986 - Others 1,715 1,427 1,304 3,142 2,546 4,774 Total Expenses 10,037 9,370 7,090 19,407 14,175 31,689 V Profit / (Loss) from ordinary activities before foreign exchange variation gain / (loss), exceptional Items and tax (III - IV) 1,066 1, ,170 (8) 2,684 VI Foreign exchange variation gain / (loss) (552) (423) (74) (975) (114) 60 VII Profit f (Loss) from ordinary activities before exceptional items and tax (V + VI) G ,195 (122) 2,744 VIII Exceptional items gain / (loss) (net) (Refer note 4, (1,339) - (500) (1,339) (968) (968) IX Profit / (Loss) before tax (VII + VIII) (835) 691 (236) (144) (1,090) 1,776 X Tax (expense) / benefit Current tax 155 (155) (465) Deferred tax (6) XI Profit / (Lose) after tax (IX * X) (648) 536 (236) (112) (1.090) 1,305 XII Other comprehensive Income Items that will not be reclassified to profit and loss (net of tax) XIII Total comprehensive Income (XI+XII) (633} E6G (236) (78) (1,090) XIV Paid-up equity share capital (Face Value -? 2 each per share) 2,244 2,244 2,244 2,244 2,244 2,244 XV Other equity excluding revaluation reserve 14,386 XVI Basic and diluted earnings per share (of 8 2 each) (not annualised! (in «(0.58) 0.48 (0-21) (0.10) (0.97) 1.16

4 EVEREST KANTO CYLINDER LIMITED UNAUDITED STANDALONE BALANCE SHEET AS AT 30 SEPTEMBER 2018 Particulars 1 ASSETS As at 30 September 2018 (Unaudited) (? In lakhs) As at 31 March 2018 (Audited) 1 Non-current assets (a) Property, plant and equipment 20,391 20,678 (b) Capital work-in-progress (c) Intangible assets (d) Financial assets (i) Investments 4,116 4,073 (ii) Loans (iii) Other financial assets (e) Deferred tax assets (net) (f) Current tax assets (net) (g) Other non-current assets Total of non-current assets 26,852 26,714 2 Current assets (a) Inventories 11,521 10,684 (b) Financial assets (i) Investments 1, (ii) T rade receivables 6,994 4,939 (iii) Cash and cash equivalents (iv) Bank balances other than cash and cash equivalents 1,078 1,207 (v) Loans 3,629 5,678 (vi) Other financial assets (c) Other current assets 3,213 3,326 Total of current assets 28,166 26,581 Assets classified as held for sale 3,071 3,071 Total Assets 58,089 56,366 II EQUITY AND LIABILITIES 1 Equity (a) Equity share capital 2,244 2,244 (b) Other equity 14,308 14,386 Total of equity 16,552 16,630 2 Liabilities (I) Non-current liabilities (a) Financial liabilities (i) Borrowings 12,039 13,953 (b) Provisions Total of non-current liabilities 12,184 14,098 (H) Current liabilities (a) Financial liabilities (i) Borrowings 7,502 7,105 (ii) Trade payables (a) total outstanding dues of micro enterprises and small enterprises (b) total outstanding dues of creditors other than micro enterprises and small enterprises 13,550 11,329 (iii) Other financial liabilities 3,669 4,021 (b) Provisions (c) Other current liabilities 4,304 2,868 Total of current liabilities 29,353 25,638 Total Equity and Liabilities 58,089 56,366

5 Notes: 1 The above results were reviewed by the Audit Committee at its meeting held on 14 November 2018 and have been approved by the Board of Directors of the Company at their meeting held on that date. 2 The above results have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standard) Rules, 2015 and Companies (Indian Accounting Standard) (Amendment) Rules, Excise duty on sales was included under 'Revenue from operations' and disclosed separately under 'Expenses' upto 30 June Post implementation of Goods and Services Tax (GST) with effect from 1 July 2017, 'Revenue from operations' is reported net of GST. 4 Exceptional items gain / (loss) (net) represent: (a) Exceptional items include impairment provision for diminution in value of investment in EKC Industries (Tianjin) Co., Ltd., a subsidiary based in China, of? Nil (? 500 lakhs for quarter ended 30 September 2017 and? 1,000 lakhs for the half year ended 30 September 2017 and year ended 31 March 2018). (b) Exceptional item include gain on reversal of provision made in earlier periods towards write down in value for slow and non-moving inventory items of? Nil (? 32 lakhs for the half year ended 30 September 2017 and year ended 31 March 2018). (c) The Company and EKC International FZE (UAE subsidiary) in earlier years had advanced loans to EKC Industries (Tianjin) Co., Ltd. (China subsidiary). During the quarter ended 30 September 2018, pursuant to approval from Commerce Bureau, Tianjin these loans have been converted into equity shares of the China subsidiary. Accordingly, the Company has received fresh equity share investments in China subsidiary having fair value of? 1,032 lakhs on conversion of loans amounting to? 2,371 lakhs. The resultant loss of? 1,339 lakhs, arising on such conversion has been included in exceptional items. 5 Interest income of? 88 Lakhs which was accruing for the half year ended 30 September 2018 (? 158 Lakhs for the year ended 31 March 2018) in respect of the loans given to the subsidiary has been deferred by the Company, due to uncertainties with respect to ultimate collection of the outstanding amounts. 6 The outstanding balances as at 30 September 2018 include trade payables aggregating? 9,785 lakhs, trade receivables aggregating? 18 lakhs and interest receivable aggregating? 1,496 lakhs to/from companies situated outside India. These balances are pending for settlement due to financial difficulties and have resulted in delays in remittance of payments, receipts of receivables and receipt of interest, beyond the timeline stipulated by the FED Master Direction No. 17/ , FED Master Direction No. 16/ and Notification No. FEMA 120/ RB-2004 respectively, under the Foreign Exchange Management Act, The Company is in the process of regularising these defaults by filing necessary applications with the appropriate authority for condonation of delays. Pending conclusion of the aforesaid matter, the amount of penalty, if any, that may be levied, is not ascertainable and accordingly, the accompanying standalone financial results do not include any adjustments that may arise due to such delay/default. 7 Previous periods' figures have been regrouped / recast, wherever necessary.

6 Walker Chandiok &Co LLP Walker Chandiok & Co LLP 16th Floor, lower II Indiabulls Finance Centre, SB Marg, Elphlnstone (W) Mumbai Maharashtra. India T F Independent Auditor s Review Report on Consolidated Quarterly Financial Results and Year to Date Results of the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 To the Board of Directors of Everest Kanto Cylinder Limited 1. We have reviewed the accompanying statement of unaudited consolidated financial results (the Statement ) of Everest Kanto Cylinder Limited (the 'Company') and its subsidiaries (the Company and its subsidiaries together referred to as the 'Group') and a joint venture (Refer Annexure 1 for the list of subsidiaries and loint venture included in the Statement) for the quarter ended 30 September 2018 and the consolidatea year to date results for the period 1 April 2018 to 30 September 2018, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, This Statement is the responsibility of the Company s Management and has been approved by the Board of Directors. Our responsibility is to issue a report on the Statement based on our review. 2. We conducted our review in accordance with the Standard on Review Engagements (SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity, issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures, applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion. 3. Based on our review conducted as above and upon consideration of the review reports of the other auditors, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with applicable Indian Accounting Standards specified under Section 133 of the Companies Act, 2013 and SEBI Circulars CIR/CFD/CMD/15/2015 dated 30 November 2015 and CIR/CFD/FAC/62/2016 dated 5 July 2016, and other recognised accounting practices and policies, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, including the manner in which it is to be disclosed, or that it contains any material misstatement. Page 1 o 3 Chartered Accountarrts Offices in Bengaluru. Chandigarh. Chennai. Gurugram. Hyderabad, Kochi Kolkata. Mumbai. New Delhi Noida and Pune Walker Chandiok & Co LLP is registered with limited liability wtth identification number AAC and rte registered office at L-41 Connaughl Circus, New Delhi, India

7 Walker Chandiok fc^co LLP Everest Kanto Cylinder Limited Independent Auditor s Review Report on Consolidated Quarterly Financial Results - 30 September We draw attention to Note 5 to the accompanying Statement, regarding delays in payment of foreign currency payables against the supply of goods, receipt in foreign currency receivables and interest receivable on foreign currency loans aggregating to? 9,785 lakhs,? 18 lakhs and? 1,496 lakhs respectively, that are outstanding for a period beyond the timelines stipulated in FED Master Direction No. 17/ FED Master Direction No. 16/ and Notification No. FEMA 120/ RB-2004 respectively, under the Foreign Exchange Management Act, Management of the Company has represented that the Company is in the process of regularising these defaults by filing necessary application with the appropriate authority for condonation of such delays. Management is of the view that the possible penalties, etc. which may be levied for these contraventions cannot be measured with sufficient reliability and accordingly, the accompanying Statement do not include any adjustments that may arise due to such default. Our report is not modified in respect of this matter. 5. We did not review the financial results of eight subsidiaries included in the Statement, whose financial results (before eliminating inter-company transactions) reflect total revenues of? 7,333 lakhs and? 16,105 lakhs for the quarter and period ended 30 September 2018 respectively, net loss (including other comprehensive income) of? 1,220 lakhs and? 946 lakhs for the quarter and period ended 30 September 2018 respectively, total assets of? 130,338 lakhs and net assets of? 68,214 lakhs as at quarter ended 30 September These financial results have been reviewed by other auditors whose review reports have been furnished to us by the management and our report in respect thereof is based solely on the review reports of such other auditors. Further, of these subsidiaries, five subsidiaries are located outside India, whose financial results have been prepared in accordance with accounting principles generally accepted in their respective countries and which has been reviewed by other auditors under generally accepted auditing standards applicable in their respective countries. The Company s management has converted the financial results of such subsidiaries located outside India from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India. We have reviewed these conversion adjustments made by the Company s management. Our report in so far as it relates to the financial results of such subsidiaries located outside India is based on the report of other auditors and the conversion adjustments prepared by the management of the Company and reviewed by us. Our review report is not modified in respect of this matter. For Walker Chandiok & Co LLP Chartered Accountants Firm's Registration No: N/N Khushroo B. Panthaky Partner Membership No Place: Mumbai Date: 14 November 2018 Page 2 of 3 Chartered Accountants

8 Walker Chandiok &Co LLP Everest Kanto Cylinder Limited Independent Auditor s Review Report on Consolidated Quarterly Financial Results - 30 September 2018 Annexure 1 List of entities included in the Statement EKC Industries (Tianjin) Co., Ltd EKC International FZE EKC Industries (Thailand) Co., Ltd Calcutta Compressions and Liquefaction Engineering Limited EKC Hungary Kft. CP Industries Holdings, Inc. EKC Europe GmbH EKC Positron Gas Ltd Next Gen Cylinder Private Limited Kamal EKC International Limited Iftis space Has 6een intentionally left 6lan%~ Page 3 of 3 Chartered Accountants

9 EVEREST KANTO CYLINDER LIMITED Registered Office: 204, Raheja Centre, Free Press Journal Marg, 214, Nariman Point, Mumbai CIN: L29200MH1978PLC020434; Tel Numbers: /01 Fax: ; Webslle : STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2018 Sr. No. VI VII VIII IX X Particulars Contlnulnn ope rations Revenue from operations (Refer note 7) Other Income Total Income (I + II) Expanses (a) Cost of materials consumed (b) Purchases of stock-in-trade (c) Changes In Inventories of finished goods, work-inprogress and stock-in-trade (d) Excise duty (Refer note 7) (e) Employee benefits (f) Finance cosl9 (g) Depredation and amortisation (h) Other expenses Power and fuel Others Total Expenses Profit I (Loss) before provision for doubtful debts foreign exchange variation gain / (loss), exceptional Items, share of profit I (lass) of joint venture and tax (III IV) Provision written back / (Provision for doubtful debts) Foreign exchange variation gain / (loss) Profit / (Loss) before exceptional Items, share of profit / (lass) of lalnt venture and tax IV * VI + VII) Share of profit / (loss) of joint venture Profit / (Lose) before exceptional Hems and tax (VIII + IX) (P In lakhs, unless otherwise stated! Quarter ended Half year ended Year ended Q.0fl (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) ,027 32,878 25,493 54,246 1fl , ,975 13,069 33,445 25,583 55,807 8, ,291 15,971 0, , ,077 1,222 2,723 (1.180) (1.310) 717 (2.490) 1,469 (130) ,950 1,879 1,896 3,829 3,762 7, ,783 1,757 3, ,449 1, ,751 1,447 3, , ,642 16,066 14,496 12,528 30,552 26,626 63,124 1,414 1, ,893 (1,043) 2,683 (69) (10) (772) (204) (92) (976) (138) , ,907 (»1«) 3,159 1 (2) (2) (1) (4) (5) 574 1, ,906 (522) 3,154 XI XII XIII XV XVI Exceptional Hems - gain (Refer note 3) Profit before tax from continuing operations (X + X!) Tax (expense) I benefit Current lax Deferred tax Profit after tax from continuing operations (XII + XIII) Discontinued Operations (Refer note 9) Profil / (Loss) from discontinued operations before tax Tax expense of discontinued operations ,906 (790) 3, (155) (456) (6) ,938 I7M) 2,724 (1.276) (110) 35 (1.386) (44) (344) XVII Profit I (Loss) from discontinued operations after tax (XV+XVI) (Refer note B (1,276) (110) 35 (1,386) («4) (344) XVIII Profit / (Lass) after tax from total operations (XIV+XV1I) (515) 1, (834) 2,380 XIX IO fri) XX Other comprehensive Income Items that wl not be reclassified la profit and loss (net of tax) Hems that wil be reclassified to profit and loss (net of tax) Total other comprehensive Income (net of tax) (Refer note B] Total Comprehensive Income (XVIH+XIX) ,850 1,367 (1.165) 4, (207) 2,865 1,386 (1,166) 4, (163) 2, (458) ) XXI Nat Profit for the period attributable Equity shareholders of the Company ffy' Non confiding interests - f ) Total Comprehensive Income attributable to Equity shareholders of Ihe Company Non confiding interests \ (500) 1, (843) 2,337 \\ (15) 2 12 (13) 9 43»!} ,451 (478) 4,816 (764) 2,174 (15) 2 12 (13) 9 43 XXII Paid-up equity share capital (Face Value -? 2 each per share) fcj 2,244 2,244 2,244 2,244 2,244 2,244 XXIII Othorequity excluding revaluation reserve XXIV Bask: and diluted earnings per share (of f 2 each) (not snnualiaed) (In (] (i) Continuing operations C <li) Discontinuing operations V* 'ty 1.74 (0.71) 2.39 (1.14) (IB) Total operations HJ** t (0.10) 0.03 (1.24) (0.04) (0.31) IL (0.75) 2.0B 42,126

10 EVEREST KANTO CYLINDER LIMITED UNAUDITED CONSOLIDATED BALANCE SHEET AS AT 30 SEPTEMBER 2018 (7 In lakhs) Particulars As at 30 September 2018 As at 31 March 2018 I ASSETS (Unaudited) (Audited) 1 Non-current assets (a) Property, plant and equipment 33,979 33,939 (b) Capital work-in-progress 1, (c) Intangible assets (d) Investment accounted for using equity method 8 (e) Financial assets (i) Investments (ii) Loans ,021 (iii) Other financial assets (e) Deferred tax assets (net) (f) Current tax assets (net) (g) Other non-current assets Total of non-current assets 38,354 37,310 2 Current assets (a) Inventories 33,203 26,730 (b) Financial assets (i) Investments 3 3 (ii) Trade receivables 10,825 8,945 (iii) Cash and cash equivalents (iv) Bank balances other than cash and cash equivalents 2,061 2,138 (v) Loans 1,004 1,252 (vi) Other financial assets (c) Other current assets 4,362 3,541 Total of current assets 52,200 43,596 Assets classified as held for sale 11,649 13,254 Total Assets 102,203 94,160 II EQUITY AND LIABILITIES 1 Equity (a) Equity share capital 2,244 2,244 (b) Other equity 46,942 42,126 Equity attributable to owners 49,186 44,370 Non-controlling interests ,209 44,406 2 Liabilities (I) Non-current liabilities (a) Financial liabilities (i) Borrowings 12,125 18,455 (b) Provisions 1,850 1,754 Total of non-current liabilities 13,975 20,209 (ii) Current liabilities (a) Financial liabilities (i) Borrowings 20,440 17,085 (ii) Trade payables (a) total outstanding dues of micro enterprises and small enterprises (b) total outstanding dues of creditors other than micro enterprises and small enterprises ,393 (iii) Other financial liabilities 6,857 4,577 (b) Provisions (c) Other current liabilities 5,524 2,954 Total of current liabilities 38,616 28,500 Liabilities directly associated with assets classified as held for sale 403 1,045 Total Equity and Liabilities

11 EVEREST KANTO CYLINDER LIMITED Registered Office: 204, Raheja Centre, Free Press Journal Marg, 214, Nariman Point, Mumbai CIN: L29200MH1978PLC020434; Inveatoragekc.in; Tel Numbers: /01 Fax: : Website : STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2018 SEGMENT WISE REVENUE, RESULTS, ASSETS AND LIABILITIES Particulars Quarter ended Half year ended Year ended , (Unaudited] (Unaudited) (Unaudited) (Unaudited) 1. Segment revenue Continulna operations a) India 11,076 10,357 7,645 21, b) U_A_E (Dubai) 3,851 3,818 2,202 7,669 4, c) U.S.A and Hungary 3,204 2,075 4,037 5,279 7,573 13,366 d) Gibers , ,868 Total 18,863 16,690 14,572 35,623 27,702 58,374 Inter segment revenue 1,590 1,055 1,545 2,845 2, Revenue from continuing operations 17,273 19,605 13,027 32,878 25,493 54,248 Discontinued operations (Refer note 9) China Revenue from discontinued operations Segment results Contlnuinq operations Segment Result (before foreign exchange variation gain / (loss), finance costs and lax): a) India , ,460 1,203 4,378 b) UA E (Dubai) 70S , c) U.S.A and Hungary (353) (211) (542) 453 d) Others 21 (73) 14 (52) (23) (16) Total 2.12S 2,410 1,932 4,535 1,040 5,828 Unallocable Income / (expenses) (net) Foreign exchange variation gain / (loss) (772) (204) (92) (978) (138) 64 Finance costs ,783 1,757 3,473 Profit Delore tax from continuing operations 974 1, ,906 (790) 3,186 Discontinued opera Bona (Refer note ) China (1 276) (110) 35 (1.386) (44) (344) Profit / (Loss) from discontinued operations before tax (1.276) (110) 35 (1,386) ( 4) (344) 3. Segment assets Continuing operations a) India 46,214 43, ,214 41,193 42,821 b) UA.E (Dubai) 16,737 16, ,737 14, c) U.S-A and Hungaiy 24,861 23, ,661 21,587 18,834 d) Others ,165 Total 88,431 85,095 77,954 88,431 77,954 78,783 Unallocated assets 4,956 4, ,956 5,835 5,194 Total segment assets - continuing operations (1) 93,387 89,902 93,789 93,387 83,789 83,977 Discontinued operations China 8,816 9,542 10,452 8,616 10,452 10,183 Total segment assets - discontinued operations (II) 8,816 9,542 10,452 8,816 10,452 10,183 Total segment assets (l+ll) 102,203 99,444 94, ,203 94,241 94, Segment liabilities a) India 7,376 5,813 4, ,769 5,325 b)uae (Dubai) , ,948 2,473 1,834 c) U.S.A and Hungary 8,360 6, ,360 5,340 3,871 d) Others Total 19,737 14,210 12,594 15,737 12,594 10,977 Add: Unallocated 36,854 37, ,854 38,323 37,732 Total segment liabilities - continuing operations (III) 92,991 51,928 50,917 52,591 50,917 48,709 Discontinued operations (Refer note 9) China , ,490 1,045 Total segment liabilities - discontinued operations (IV) 4Q , ,490 1,045 Total segment liabilities (lll+iv) 52,994 92,596 52,407 52,994 52,407 49,754

12 Notes: 1 The above results were reviewed by the Audit Committee at its meeting held on 14 November 2018 and have been approved by the Board of Directors of the Company at their meeting held on that date. 2 The above results have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standard) Rules, 2015 and Companies (Indian Accounting Standard) (Amendment) Rules, Exceptional item include gain on reversal of provision made in earlier periods towards write down in value for slow and non-moving inventory items of? Nil (? 32 lakhs for the half year ended 30 September 2017 and year ended 31 March 2018). 4 The consolidated financial results include the standalone financial results of Everest Kanto Cylinder Limited (the 'Company'), its seven wholly owned subsidiaries and step-down subsidiaries, EKC Industries (Tianjin) Co. Ltd., EKC International FZE, EKC Industries (Thailand) Co.Ltd., EKC Hungary Kft, CP Industries Holdings, Inc. EKC Europe GmbH and Next Gen Cylinder Private Limited and also Calcutta Compressions & Liquefaction Engineering Limited and EKC Positron Gas Limited, subsidiaries in which it has majority stake and of joint venture, Kamal EKC International Limited. The financial results of these entities have been duly reviewed by the respective auditors of these entities, except for EKC Europe GmbH and Kamal EKC International Limited whose operations are not significant. 5 The outstanding balances of the Company as at 30 September 2018 include trade payables aggregating 9,785 lakhs, trade receivables aggregating 18 lakhs and interest receivable aggregating 1,496 lakhs to/from companies situated outside India. These balances are pending for settlement due to financial difficulties and have resulted in delays in remittance of payments, receipts of receivables and receipt of interest, beyond the timeline stipulated by the FED Master Direction No. 17/ , FED Master Direction No. 16/ and Notification No. FEMA 120/ RB-2004 respectively, under the Foreign Exchange Management Act, The Company is in the process of regularising these defaults by filing necessary applications with the appropriate authority for condonation of delays. Pending conclusion of the aforesaid matter, the amount of penalty, if any, that may be levied, is not ascertainable and accordingly, the accompanying standalone financial results do not include any adjustments that may arise due to such delay/default. 6 The Company, its subsidiaries, step down subsidiaries and joint venture operate within a single business segment. Hence, the Company has disclosed geographical segment as the primary segment on the basis of geographical location of the operations carried out by the Company, its subsidiaries, step down subsidiaries and joint venture. 7 Excise duty on sales was included under 'Revenue from operations' and disclosed separately under 'Expenses' upto 30 June Post implementation of Goods and Services Tax (GST) with effect from 1 July 2017, 'Revenue from operations' is reported net of GST. 8 Profit I (Loss) from discontinued operations is attributable to equity shareholders of the Company. Further, Other comprehensive income do not include amounts pertaining to discontinued operations. 9 The Group had entered into an agreement to sell the EKC Industries (Tianjin) Co. Ltd. (China subsidiary) to You Yuan Office Union (Tianjin) Company Limited for a consideration of RMB million (approx. Rs. 9,700 lacs) subject to various regulatory approvals in India and China. Further, the Company has also obtained the shareholders approval in this respect. Accordingly, the results of Group's China operations have been reported as discontinued operations. The associated assets and liabilities are consequently presented as held for sale in the financial results for the year ended 31 March Being a discontinued operation, the China operations have not been considered as separate reportable segment. 10 Previous periods' figures have been regrouped / recast, wherever necessary. For and on behalf of the Board of Directors Place: Mumbai Date : 14 November 2018 P. K. Khurana Chairman & Managing Director DIN:- 000Ch. 5O